Herc Holdings Inc (HRI) Issues Earnings Results, Misses Expectations By $0.78 EPS

Herc Holdings Inc (NYSE:HRI) released its quarterly earnings results on Tuesday. The transportation company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by $0.78. The business had revenue of $389.40 million for the quarter, compared to the consensus estimate of $366.74 million. Herc Holdings had a net margin of 0.25% and a negative return on equity of 1.81%. The business’s quarterly revenue was up 6.5% on a year-over-year basis.

Herc Holdings (NYSE:HRI) traded up 1.69% during midday trading on Friday, hitting $35.60. 460,988 shares of the company were exchanged. Herc Holdings has a one year low of $25.05 and a one year high of $531.30. The firm’s 50-day moving average price is $45.75 and its 200-day moving average price is $43.96. The stock’s market capitalization is $1.01 billion.

A number of research analysts have recently weighed in on HRI shares. Zacks Investment Research downgraded shares of Herc Holdings from a “hold” rating to a “sell” rating in a report on Friday, April 7th. Northcoast Research downgraded shares of Herc Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday, February 7th. They noted that the move was a valuation call. KeyCorp upgraded shares of Herc Holdings from a “sector weight” rating to an “overweight” rating and set a $60.00 target price on the stock in a report on Monday, April 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 target price on shares of Herc Holdings in a report on Thursday, April 13th. Finally, Barclays PLC reiterated a “hold” rating and issued a $46.00 target price on shares of Herc Holdings in a report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $48.83.

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Large investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its stake in shares of Herc Holdings by 21.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,017,422 shares of the transportation company’s stock worth $121,180,000 after buying an additional 534,228 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Herc Holdings by 1,071.1% in the fourth quarter. Two Sigma Investments LP now owns 429,600 shares of the transportation company’s stock worth $17,253,000 after buying an additional 392,915 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Herc Holdings during the first quarter worth about $18,278,000. Banbury Partners LLC purchased a new stake in shares of Herc Holdings during the fourth quarter worth about $11,140,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Herc Holdings during the fourth quarter worth about $10,454,000. Institutional investors and hedge funds own 96.57% of the company’s stock.

About Herc Holdings

Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.

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